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Canterbury Park Holding Corporation (CPHC0.00%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing total net revenues of $19,284,000, a slight increase from $19,268,000 in the same quarter the previous year. For the nine months ended September 30, 2024, total net revenues were $49,585,000, up from $48,910,000 in the previous year.
Casino revenue for the quarter was $9,879,000, down from $10,224,000 in the previous year, attributed to a decrease in table games collection revenue. For the nine months, casino revenue was $29,780,000, compared to $30,322,000.
Pari-mutuel revenue for the quarter was $3,327,000, a slight decrease from $3,405,000 in the previous year. For the nine months, pari-mutuel revenue increased to $7,100,000 from $7,010,000.
Food and beverage revenue for the quarter decreased to $3,102,706 from $3,310,759 in the previous year. For the nine months, it increased to $6,930,086 from $6,808,242.
Other revenue for the quarter increased to $2,975,669 from $2,328,564 in the previous year, attributed to new events including a rodeo and comedy series.
Total operating expenses for the quarter were $17,370,092, slightly down from $17,461,813 in the previous year. For the nine months, total operating expenses increased to $44,786,387 from $44,486,784.
The company recorded a gain of $1,732,353 from the transfer of land to a joint venture.
Net income for the quarter was $2,021,806, up from $1,136,299 in the previous year. For the nine months, net income was $3,358,246, down from $9,199,331.
Cash provided by operating activities was $9,280,520 for the nine months ended September 30, 2024, compared to $10,200,693 in the previous year.
The company had cash, cash equivalents, and restricted cash of $22,427,394 as of September 30, 2024. The filing also details various financial agreements and commitments, including a credit agreement with a $5,000,000 line of credit.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Canterbury Park Holding Corporation quarterly 10-Q report dated November 8, 2024. To report an error, please email earnings@qz.com.